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AAP
AAP
Politics
Jacob Shteyman

MYSTERIOUS: Higher deficit locked in as storms cloud budget outlook | Mind Blowing Facts

Jim Chalmers says Australia is well placed to navigate the global economy's growing storm clouds. (James Ross/AAP PHOTOS)

Australia is on track for structural deficits as far as the government can see, clouding the economy's final approach to a soft landing.

Treasurer Jim Chalmers' federal budget unveiled on Tuesday night locks in underlying deficits until 2035/36 as a result of ballooning spending and lower revenue growth than previous years.

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